Flight Navigation System Market Report

Market Insights

"The global flight navigation system market is projected to grow from USD 15.6 billion in 2020 to USD 22.2 billion by 2026 at a CAGR of around 6.2% during the forecast period."

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Flight navigation systems are designed to assist in determining the position of an aircraft by accurately maintaining a direction. Flight navigation systems offer enhanced accuracy and location services to pilots. It also assists pilots in securely landing in unpredictable or dangerous climatic conditions.

The growth of the flight navigation system market is primarily driven by increasing product use in aircraft to assist in secure landing. Significant growth of the aviation industry with rising demand for aircraft is likely to drive the market growth at a significant rate during the review period. In addition to this, increasing demand for advanced flight navigation systems is likely to create lucrative opportunities for the players operating in the global market in the coming years.

COVID-19 Impact

The COVID-19 outbreak impacted the growth of the flight navigation system market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product supply and demand for a short period.

Segment Analysis

Product Trends

"The flight control system segment accounted for the largest market share."

The flight navigation system market has been bifurcated into flight control systems, flight management systems, navigation systems, surveillance, and communication system. The flight control system segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.

Regional Insights

"North America accounted for the largest market share."

The market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established aviation industry in US coupled with the presence of key market players such as The Raytheon Company (US) and Universal Avionics Systems Corporation (US). The market in Asia-Pacific is expected to be driven by the growing aviation industry in developing countries particularly in China and India.

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Key Players

Key players operating in the Flight Navigation System market are-

• The Raytheon Company (US)
• Universal Avionics Systems Corporation (US)
• The Boeing Company (US)
• Northrop Grumman Corporation (US)
• Esterline Technologies Corporation (US)
• Honeywell International Inc. (US)
• Moog Inc. (US)
• Garmin Ltd (US)
• Rockwell Collins (US)
• SAGEM (France)

Note: The above list does not necessarily include all the top players of the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s flight navigation system market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.